China CITIC Bank (OTCMKTS:CHCJY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of China CITIC Bank (OTCMKTS:CHCJY) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

China CITIC Bank Trading Up 20.5%

Shares of CHCJY stock opened at $19.40 on Wednesday. China CITIC Bank has a 12 month low of $15.92 and a 12 month high of $22.30. The company has a market cap of $47.47 billion, a PE ratio of 5.74 and a beta of 0.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $19.02 and its two-hundred day moving average is $19.13.

China CITIC Bank (OTCMKTS:CHCJY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.04 earnings per share for the quarter. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.86 billion. China CITIC Bank had a net margin of 20.39% and a return on equity of 8.44%. Equities analysts predict that China CITIC Bank will post 3.88 EPS for the current year.

About China CITIC Bank

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.